Sea's CEO Says Fintech Arm Monee Could Go Public, WSJ Reports

3-line summary

• Sea Limited CEO Forrest Li told employees in an internal memo, marking the company's ninth anniversary on the New York Stock Exchange, that digital financial-services unit Monee has become Sea's fastest-growing business in recent quarters and is approaching a stage where it could operate independently, the Wall Street Journal reported.
• Li said Sea's three main businesses-Monee, e-commerce platform Shopee, and gaming unit Garena-have all reached scale, turned profitable, and continue to grow, and credited the company's public listing with providing capital and credibility that have drawn in more investors.
• The memo did not specify a timeline or offering details for a potential Monee IPO; a listing would give the fintech unit easier access to capital to expand its financial-services business, according to the report.

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